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The Role Of Legal Assessment On Tender Of Contracts In Nigeria
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1.7 SCOPE OF THE STUDY
The study will cover the
role of legal assessment in contract tenders for companies in Nigeria,
using the Ministerial Tender Board (MTB) unit of the Federal Ministry of
Interior, Abuja as a case study.
1.8 LIMITATION OF THE STUDY
Some
of the people felt reluctant to answer the questionnaire also few who
answered did not comprehend how to answer the questionnaire properly.
Certain vital questions relating improvement have being massively
ignored.
The researcher was not able to see all the teachers,
non-academic staff and students to share thoughts on the topic, due to
busy schedules of the populations
1.9 DEFINITION OF TERMS
1.
Legal: Allowable or enforceable by being in conformity with the law of
the land and the public policy; not condemned as illegal. See also
lawful and legitimate.
2. Law: Law is a term which does not have a
universally accepted definition, but one definition is that law is a
system of rules and guidelines which are enforced through social
institutions to govern behavior. Laws are made by governments,
specifically by their legislatures.
3. Finance: This is the study of
how people allocate their assets over time under conditions of
certainty and uncertainty. A key point in finance, which affects
decisions, is the time value of money, which states that a unit of
currency today is worth more than the same unit of currency tomorrow.
Finance aims to price assets based on their risk level, and expected
rate of return. Finance can be broken into three different sub
categories: public finance, corporate finance and personal finance.
4.
Tender: A tender is a formal, structured invitation to suppliers to bid
to supply products or services. In the public sector, such a process
may be required and determined in detail by law to ensure that such
competition for the use of public money is open, fair and free from
bribery and nepotism.
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